Two things have held up through decades of research on education and its impact. First, socio-economic background is the single best predictor of educational outcomes. And second, education is a necessary but not sufficient precursor to increased socio-economic outcomes. These are the findings that are rediscovered in the current study published in the journal Social Forces. But Facebook devotes a substantial portion of this article repeating criticism from an outlier study (more here) "finding that college is in fact the great equalizer." According to that outlier critics, "students who graduate from the same Ivy League college -- or any college -- tend to earn similar amounts of money in their adult lives." Well sure - if you ignore selection bias, graduation rates, and the fact that income at age 30 is not an educational outcome, you get similar results. I would caution against making this study the basis of criticism of future studies.